Coin98, a decentralized finance (DeFi) protocol and on-chain liquidity provider, announced that it has received investment from DWF Labs, a global digital asset market maker and multi-stage web3 investment firm.
Coin98 Announces It Receives Investment From DWF
The investment will help Coin98 accelerate its global adoption and expand its product offerings.
After the announcement of the investment, there was a sudden jump in the price of Coin98.
Coin98 is a DeFi protocol that aims to offer better liquidity and price stability than automated market makers (AMMs) using a unique proactive market maker (PMM) algorithm.
The PMM algorithm mimics human trading behavior and uses oracles to collect accurate market prices for assets.
It then provides sufficient liquidity near these prices to stabilize the liquidity providers' (LP) portfolios, reduce price drift, and eliminate temporary loss by allowing arbitrage trading as a reward.
According to CoinMarketCap1, Coin98 ranks 257th among all cryptocurrencies with a market cap of $127 million and a 24-hour trading volume of $13 million.
DWF Labs is a leading global digital asset market maker and multi-stage web3 investment firm providing support from token listing to market making and OTC trading solutions.
DWF Labs is a subsidiary of Digital Wave Finance (DWF), one of the world's largest high-frequency cryptocurrency trading organizations, trading in the spot and derivatives markets on more than 40 exchanges.
*Not investment advice.
